Tech sell-off, cyber outages cap a choppy week for world markets LONDON (Reuters) -World stocks pulled back from record highs on Friday as investors continued to rotate away from megacap growth stocks, while a global cyber outage hit services from airlines to banks and financial services and capped a turbulent week for markets. A tech sell-off sparked by Sino-U.S. trade tensions, doubts over U.S. President Joe Biden's fate in the presidential race and growing chances of a win for rival Donald Trump Donald Trump , weak Chinese economic data and a lacklustre third plenum outcome have cast a shadow over the global mood. U.S. stock index futures fell, indicating more pain on Wall Street after all three major stock indices suffered losses on Thursday. European stocks were broadly lower, while in Asia tech stocks continued to struggle. MSCI's world stock index fell to a two-week low, retreating further from a record high hit earlier this month. "The changing probability of a ...
Dollar set for weekly gain, cyber outage unnerves investors LONDON, July 19 (Reuters) - The dollar rose in jittery trading on Friday, as a worldwide cyber outage that hit banks, airlines and broadcasters unsettled investors, although volatility in the currency market remained contained. Signs of disruption in one of the world's busiest financial centres emerged as London trade got underwa y. LSEG Group LSEG.L , which runs the London Stock Exchange, suffered an outage that affected user access to some of its products. Risk appetite has recoiled this week, punishing technology stocks in particular, while expectations for a rate cut as early as September from the Federal Reserve ha ve taken a chunk out of the dollar, especially against low-interest rate currencies such as the yen and the Swiss franc. The huge gap between U.S. rates and those in Japan and even in Switzerland has created an opportunity for investors to sell those currencies to fund purch...